Iran reports 149% rise in gas condensate exports

Business Materials 27 May 2018 10:52 (UTC +04:00)

Tehran, Iran, May 27

By Kamyar Eghbalnejad - Trend:

Iran has reported an increase of 149 percent in exports of condensate to global markets from the Pars Special Economic Energy Zone (PSEEZ) over a period of one month.

The announcement was made by Director General of the PSEEZ Customs Department Ahmad Pourheidar on Sunday, IRNA news agency reported.

Iran exported 1.062 million tons of gas condensate valued at $1.09 billion from the Pars Special Economic Energy Zone from April 21 to May 21, marking a 149-percent rise in value compared to the corresponding period last year, Pourheidar said.

He noted that the rise came after US President Donald Trump on May 8 refused to keep his country in the 2015 nuclear deal between Tehran and world powers.

The South Pars gas field, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar.

It covers an area of 9,700 square kilometers, of which 3,700 square kilometers belongs to Iran.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.